Steven Dance has resigned as an Interserve director after he announced his decision to retire.
Mr Dance is managing director of RMD Kwikform, Interserve’s equipment services division.
The group began a strategic review of RMD Kwikform earlier this year, with a view to a possible sale.
In 2015, the division turned over £211m and produced an operating profit of £41.9m.
In a market update yesterday, analyst Liberum said it had an estimated target price of £343m for the sale of the business.
Mr Dance is succeed by Ian Hayes as MD. Mr Hayes has been divisional director of equipment services since 2007 and also leads its Europe, Far East and Americas business. He will report directly to Interserve chief executive Adrian Ringrose.
Mr Ringrose said: “I would like to thank Steve for his significant contribution to Interserve over the last 12 years, in particular, for his leadership and development of the Equipment Services business, which he leaves in good shape and with a strong management team, led by Ian Hayes, to drive its future development.”